HERE COMES INITIAL JOBLESS CLAIMS...

At 8:30 a.m. ET, the Department of Labor will release its latest weekly tally of initial unemployment insurance claims.

Economists estimate claims ticked up to 330,000 from 323,000 a week ago.

"Initial jobless claims probably normalized after two weeks of outsized swings, but another massive winter storm system that swept through the Midwest and South poses the risk of a lower print," said Citi's Peter D'Antonio. "If our estimate is correct, the four-week moving average continued to persist in the narrow 330-340K range that has prevailed since the beginning of the year. Despite week-to-week volatility due to storms, extreme cold and holidays, first filings have been remarkably stable on average."

Click Here For Live Updates »